• Title/Summary/Keyword: Incurred loss

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Rational Criterion of Suing and Labouring Charge in Marine Insurance -Using Game Theoretic Approach-

  • Kang, Jun-Won
    • Journal of Korea Port Economic Association
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    • v.20 no.2
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    • pp.73-87
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    • 2004
  • The purpose of this paper is to setup reasonable criterion for underwriters to reimburse the expenses of suing and labouring incurred by assured, using game theory. As for the upper limit for the reimbursement, MIA and ICC do not mention at all but stipulate that proper and reasonable expenses shall be reimbursed, while ITC-Hulls set the amount insured as the upper limit to compensate the sum of expenses and damage loss. And as for failed measures of averting and minimizing loss, MIA and ICC do not mention either, while ITC-Hulls stipulates underwriters shall compensate the expenses and damage loss within the amount insured. The main results of this paper are as follows: First, it is for the benefit of underwriters to reimburse the expenses incurred to take such reasonable measures to avert or minimizing a loss which would be recoverable under the insurance. Second, the expenses of single measure should not be above the amount insured. Third, even if the measures failed, the expense should be reimbursed if it is less than the expected value of the subject-matter insured that could be recovered by the measures. Last, if the measures are taken several times individually, even if the sum of expenses might be above the amount insured, it should be reimbursed.

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A Case Study on Owner's Loss Incurred due to the Financial Cost of Public Construction Works in Korea (국내 공공공사에서 발주자 손실의 금융비용 사례연구)

  • Jeong, Min;Lee, Ghang
    • Korean Journal of Construction Engineering and Management
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    • v.9 no.3
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    • pp.136-145
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    • 2008
  • Occasionally an owner of public construction work pays financial costs in addition to progress payments. However, the overall scale of financial costs are not known. This research examines, based on a case study, the financial cost incurred in public construction works and the following issues: the overall scale of financial costs, the impact on financial costs on the owner, and the impact of timing on the overall sum of the financial costs. Annually, more than 2.3 trillion KRW are paid as progress payments for public construction work; yet, there is no research data showing the scale of financial costs thus incurred. The purpose of this research is to illustrate the scale of financial costs incurred due to progress payments for public construction works, and to suggest alternatives that would improve relevant regulations.

A Study on Piracy and the Liability of the Insurer based on Somali Pirates (소말리아 해적사건을 통한 해적행위와 해상보험자의 책임에 관한 연구)

  • Choi, Byoung Kwon
    • THE INTERNATIONAL COMMERCE & LAW REVIEW
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    • v.59
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    • pp.113-135
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    • 2013
  • Piracy has been an ongoing and serious problem in international shipping industry. Somalia is often in the news these days. Somalia has been in a state of unrest for more than two centuries. In recent times, the situation has remained unstable. The persistent unrest is the major driver behind the piracy epidemic in Somalia waters. By the MIA 1906, s.78(1), the expenses in order to be recoverable must have been "properly incurred". The underwriter is also liable in certain circumstances for expenses incurred by the assured in an attempt to avert or diminish loss covered by the policy, under provisions. This class of expenditure is commonly referred to as sue and labour expenses, or suing and labouring expenses; less commonly, as particular charges. The standard marine policy(the S.G.Form) contained what was invariably called the sue and labour clause, which has been replaced in the current Institute Clauses by the "Duty of Assured(Sue and Labour)" Clause in the Hull Clauses, and the "Duty of Assured" Clause, headed "Minimizing losses", in the Cargo Clauses. Sue and labour charges are not confined to expenditure on the part of the assured and his agents, but can include quantified loss consequent upon a sacrifice properly and reasonably made to avert or minimize an insured loss.

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Modification of the Existing Binders for Highly-Shattering, Short-Stem Rice Varieties (II) (탈립성(脱粒性), 단간종(短稈種)인 통일계품종(統一系品種)에 적합(適合)한 바인더의 개량(改良) 개발(開発)에 관(関)한 연구(硏究) (II))

  • Chung, C.J.;Choi, H.S.;Ryu, K.H.;Koh, H.K.;Kim, S.R.
    • Journal of Biosystems Engineering
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    • v.8 no.2
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    • pp.18-25
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    • 1983
  • The binders introduced in Korea were originally designed to be used for Japonica varieties which have realtively long stem and are highly resistant to shattering. In order to use it for Tongil varieties which are short and easy to be shattered, mechanical modifications are necessary to reduce a grain loss incurred during its operation. This study was intended to investigate the binding unit, one of the major factors affecting grain losses. The binding parts of three binders used in Korea were analyzed and the grain loss was experimentally assessed for these binders. The results obtained from this study are summarized as follows: 1. From the motion analysis of discharge mechanism, the trajectory of the discharge arm appeared to be either circular or skewed elliptic. The velocity of a circular path mechanism was constant and smaller than that of a skewed elliptic path mechanism. The discharge grain loss of the former was about twice less than that of the latter. 2. It was found that the grain loss incurred due to the collision of the paddy bundles and ground was considerably high for Tongil varieties. The auxiliary discharge bar gave a significant influence on the motion and posture of the bundles, and the degree of impact on ground. 3. The installation of an auxiliary bar, which guides the paddy bundles smoothly to ground in order to reduce impact when the bundles fall down on ground, appeared to be very effective since the grain losses could be decreased by about 1.6 percentage point. However, the guide bar should be installed after some mechanical modification to reduce the velocity of discharge arm has been made.

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Chaff-outlet Grain Loss of Head-feed Combine -Development of a Monitor for Detecting Chaff-outlet Grain Loss of Head-feed Combine- (자탈형(自脱型) 콤바인의 배진손실(排塵損失)에 관(關)한 연구(硏究)(I) -자탈형(自脱型) 콤바인의 배진손실(排塵損失) 모니터 개발-)

  • Chung, C.J.;Choe, J.S.;Choi, Y.S.
    • Journal of Biosystems Engineering
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    • v.14 no.4
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    • pp.251-261
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    • 1989
  • The amount of grain loss incurred during harvesting operation through the chaff-outlet of combine may not be negligible. To minimize this grain loss and optimize condition of combining, it may be necessary that the amount of chaff-outlet loss dependent on varying crop condition is to be estimated as exactly as possible. This study was thus intended to develop the monitor that could indicate the amount of grain loss occurred through the chaff-outlet of combine during harvesting operation. The function of this monitor is to measure at the sounding board the impact sound of paddy kernels which could be distinguished from those of other threshing products through chaff-outlet, and from vibration or noise created by the combine engine and other moving parts. To develop such monitor, the frequency distributions of each sound generated by the impact of grain and chaff, the sound generated by the impact of the mixture of grain and chaff, and vibration or noise created by the combine engine and other moving parts were investigated experimentally. From the results of frequency analyses, the trainsducer adequate for the monitering system was selected and sounding board was constructed. The grain loss monitor thus obtained was tested by attaching the sounding board to the chaff-outlet of combine.

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Consideration of the Carrier Based Signal Injection Method in Three Shunt Sensing Inverters for Sensorless Motor Control

  • Jung, Sungho;Ha, Jung-Ik
    • Journal of Power Electronics
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    • v.16 no.5
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    • pp.1791-1801
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    • 2016
  • This paper considers a carrier based signal injection method for use in the three shunt sensing inverter (TSSI) for sensorless motor control. It also analyzes the loss according to the injection axis of the voltage signal. To remove both the phase current and rotor position sensors, a sensorless method and a phase current reconstruction method can be simultaneously considered. However, an interaction between the two methods can be incurred when both methods inject voltage signals simultaneously. In this paper, a signal injection based sensorless method with the 120° OFF Discontinuous PWM (DPWM) is implemented in a TSSI to avoid this interaction problem. Since one leg does not have a switching event for one sampling period in the 120° OFF DPWM, the switching loss is altered according to the injection axis. The switching loss in the d-axis injection case can be up to 32% larger than that in the q-axis injection case. Other losses according to the injection axis are also analyzed.

Legal Interest in Damages Regarding Loss of Treatment Chance (치료기회상실로 인한 손해배상에 있어서 피침해법익)

  • Eom, Bokhyun
    • The Korean Society of Law and Medicine
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    • v.20 no.3
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    • pp.83-139
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    • 2019
  • Recognition of liability for damages due to medical malpractice has been developed largely on the basis of two paths. First is the case where there is an error in a physician's medical practice and this infringes upon the legal interests of life and body, and the compensation for monetary and non-monetary damages incurred from such infringement on life and body becomes an issue. Second is the case where there is a breach of a physician's duty of explanation that results in a infringement on the patient's right of autonomous decision, and the compensation for non-monetary damages incurred from such infringement becomes an issue. However, even if there is a medical error, since it is difficult to prove the causation between the medical error of a physician and the infringement upon legal interests, the physician's responsibility for damage compensation is denied in some cases. Consider, for example, a case where a patient is already in the final stage of cancer and has a very low possibility of a complete recovery even if proper treatment is received from the physician. Here, it is not appropriate to refuse recognition of any damage compensation based on the reason that the possibility of the patient dying is very high even in the absence of a medical error. This is so because, at minimum, non-monetary damage such as psychological suffering is incurred due to the physician's medical error. In such a case, our courts recognize on an exceptional basis consolation money compensation for losing the chance to receive proper treatment. However, since the theoretical system has not been established in minutiae, what comes under the benefit and protection of the law is not clearly explicated. The recent discourse on compensating for damages incurred by patients, even when the causation between the physician's medical error and infringement upon the legal interests of life and body is denied, by establishing a new legal interest is based on the "legal principle of loss of opportunity for treatment." On what should be the substance of the new legal interest, treatment possibility argument, expectation infringement argument, considerable degree of survival possibility infringement argument and loss of opportunity for treatment argument are being put forth. It is reasonable to see the substance of this protected legal interest as "the benefit of receiving treatment appropriate to the medical standard" according to the loss of opportunity for treatment argument. The above benefit to the patient is a value inherent to human dignity that should not be infringed upon or obstructed by anyone, and at the same time, it is a basic desire regarding life and a benefit worthy of protection by law. In this regard, "the benefit of receiving treatment appropriate to the medical standard" can be made concrete as one of the general personal rights related to psychological legal interest.

Modification of the Existing Binders for Highly-Shattering, Short-Stem Rice Varieties (I) (탈립성(脱粒性), 단간종(短稈種)인 통일계품종(統一系品種)에 적합(適合)한 바인더의 개량(改良) 개발(開發)에 관(關)한 연구(硏究)(I))

  • Choi, Hee Seung;Chung, Chang Joo
    • Journal of Biosystems Engineering
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    • v.7 no.1
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    • pp.17-32
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    • 1982
  • The binders introduced in Korea were originally designed to be used for Japonica-type varieties which have relatively long stem and are highly resistant to shattering. In order to use it for Tongil varieties which are short and easy to be shattered, mechanical modifications are necessary to reduce a grain loss incurred during binder operation. This study was intended to investigate analytically and experimentally the major sources of grain losses caused by three kinds of binders now introduced in Korea. Actual modification for each of three binders was done and experimentally compared to see if any improvement on grain loss was achieved. The results obtained in this study are summarized as follows; 1. It was required that the power transmission of binder should have a shifting mechanism so that velocities of pick-up and traveling units could be changed independently as desired according to the Japonica-type and Tongil varieties. In other words, the desired velocity of traveling unit should be obtained by shifting the transmission and the velocity of pick-up unit should be selected by reaping clutch according to the variety independent of the velocity of traveling unit as shown in Fig. 6. 2. To reduce grain loss it was desired that the moving parts of the pick-up unit should have the lowest possible velocities in harvesting Tongil varieties, unless the reduction of the speed be hindered the conveyance of the material. Based on the study, it was concluded that the velocities of pick-up unit be reduced by about 35% of those of the existing units. 3. It was found that the lug at the upper rotating section of pick-up case gave a severe impact on the ears of rice to increase grain loss. The optimum design of pick-up case to protect the ears from the protruding part of the lug was recommended by the result of analysis of the trajectory of the end-point of lug at the position. 4. It was proved analytically and experimentally that pick-up unit at the lower-rotating part was the other important source of grain loss in pick-up and divider assembly. In order to reduce a grain loss incurred by lugs at their lower-rotating section, it was suggested to improve it by (1) widening the space between right and left lower-rotating section, (2) shortening the length of lugs, (3) enlargement of the angle between the pick-up case and ground-level, and (4) attaching guard to right and left dividers so that the rotating lug could not give a high impact to the paddy hill. 5. Pick-up and divider assembly of the original binder of three models studied was modified according to the suggestions that were given by the preliminary study. Field test showed that the modified binders were able to reduce grain losses by about 0.4-0.7 percentage points compared to those without modification.

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Chaff-outlet Grain Loss of Head-feed Combine -Changes in chaff-outlet gram loss on the variety, location of chaff-outlet loss control plate and traveling speed- (자탈형(自脱型) 콤바인의 배진손실(排塵損失)에 관(關)한 연구(硏究)(II) -품종(品種), 배진조절판(排塵調節板)의 위치, 작업속도(作業速度)가 배진손실량(排塵損失量)에 미치는 영향-)

  • Chung, C.J.;Choe, J.S.;Choi, Y.S.;Chung, S.I.
    • Journal of Biosystems Engineering
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    • v.15 no.4
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    • pp.310-318
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    • 1990
  • The amount of grain loss incurred during harvesting operation through the chaff-outlet of combine may not be negligible. To minimize this grain loss and optimize condition of combining, it may be necessary that the amout of chaff-outlet loss dependent on varying crop condition is to be estimated as exactly as possible. This study was thus intended to develop the monitor that could indicate the amount of grain lost through the chaff-outlet of combine during haravesting operation, and to find out driving and operating method of combine that could reduce chaff-outlet loss. In the study(1), the frequency distributions of each sound generated by the impact of kernels and chaff, the sound generated by the impact of the mixture of kernels and chaff, and vibration or noise created by the combine engine and other moving parts were investigated experimentally. Based on the results of frequency analyses, the loss monitor was developed which could measure the impact sound of paddy kernels that could be distinguished from those of other threshing products through chaff-outlet, and from vibration or noise created by the combine engine and other moving parts. Also in this study, detecting capability of monitor was tested by comparing the amount of grain lost through chaff-outlet with the amount of grain detected by the loss monitor, and changes in chaff-outlet grain loss on the increase of traveling speed, location of chaff-outlet loss control plate and variety of paddy rice were measured using the loss monitor. The monitor developed in this study efficiently measured the amount of grain lost through the chaff-outlet of combine. It was found that the chaff-outlet grain loss ratio was affected greatly by the variety of paddy rice, the location of chaff-outlet loss control plate and traveling speed of combine.

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An Integrated Process Control Scheme Based on the Future Loss (미래손실에 기초한 통합공정관리계획)

  • Park, Chang-Soon;Lee, Jae-Heon
    • The Korean Journal of Applied Statistics
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    • v.21 no.2
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    • pp.247-264
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    • 2008
  • This paper considers the integrated process control procedure for detecting special causes in an ARIMA(0,1,1) process that is being adjusted automatically after each observation using a minimum mean squared error adjustment policy. It is assumed that a special cause can change the process mean and the process variance. We derive expressions for the process deviation from target for a variety of different process parameter changes, and introduce a control chart, based on the generalized likelihood ratio, for detecting special causes. We also propose the integrated process control scheme bases on the future loss. The future loss denotes the cost that will be incurred in a process remaining interval from a true out-of-control signal.